Field Trip Health Ltd. Granted US Patent Covering Novel Psychedelic Molecule FT-104
05 April 2022 - 9:51PM
Field Trip Health Ltd. (NASDAQ: FTRP, TSX: FTRP) ("Field Trip"), a
global leader in the development and delivery of psychedelic
therapies, today announced that the U.S. Patent and Trademark
Office (“USPTO”) has granted the Company a patent for claims
related to FT-104 (informally known as “Isoprocin Glutarate”),
Field Trip’s first novel psychedelic molecule in development.
Claims in the patent application titled,
“Tryptamine Prodrugs,” grant exclusive rights to Field Trip for the
composition of matter, use and manufacturing of a family of
hemi-ester compounds of hydroxytryptamines, including FT-104. The
patent will provide protection until 2040.
As part of its intellectual property strategy,
Field Trip filed an international patent application relating to
FT-104 under the Patent Cooperation Treaty (PCT). The PCT filing is
a step towards expansion into National Phase filings to protect
FT-104 in major markets where Field Trip intends to pursue
commercialization, in the event of regulatory approval. The PCT
patent application provides Field Trip with deferred patent filing
rights in 150+ countries.
“The US patent grant strengthens IP protection
for our lead drug candidate FT-104 for the global pharmaceutical
market. This grant builds upon the corresponding patent application
filed under the PCT,” said Joseph del Moral, CEO of Field Trip. “We
are continuing to strengthen patent protections for FT-104 and its
uses across the globe, as we advance our Phase 1 clinical trial and
continue to develop other molecules in our pipeline.”
Field Trip’s approach leverages science and
best-in-class psychotherapy protocols to inform promising treatment
approaches for use in research and clinical applications. As part
of that process, Field Trip has made significant progress towards
its phase 1 clinical trial, with advances on its
Chemistry-Manufacturing-Control (“CMC”) and nonclinical-safety
toxicology programs for FT-104, and expects to initiate a Phase 1
clinical trial before the end of the first half of 2022. A protocol
has been submitted for ethics review.
Dr. Nathan Bryson, Field Trip’s Chief Scientific
Officer, commented: “With a solid intellectual property foundation,
we can move to our Phase 1 clinical trial with confidence that we
can claim ownership of this invention. This patent protects the
composition of matter, methods of manufacture, formulations and
methods of use with FT-104 and other similar analogs. FT-104,
specifically, seeks to provide for a shorter, consistent and more
convenient 2-3 hour psychoactive experience with subjective effects
and clinical efficacy of a classical serotonin psychedelic, like
psilocybin. A shorter duration could make FT-104 a more convenient
psychedelic drug to treat mental health conditions like
treatment-resistant depression and postpartum depression.”
About Field Trip Health
Ltd.
Field Trip is a global leader in the development
and delivery of psychedelic therapies. With our Field Trip
Discovery division leading the development of the next generation
of psychedelic molecules and conducting advanced research on
plant-based psychedelics and our Field Trip Health division
building centers for psychedelic therapies opening across North
America and Europe along with the digital and technological tools
that will enable massive scale, we help people in need with a
simple, evidence-based way to heal and heighten engagement with the
world.
Learn more at https://www.meetfieldtrip.com,
https://www.fieldtriphealth.com and
https://www.fieldtriphealth.nl.
Follow us on Twitter and Instagram:
@fieldtriphealth
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Cautionary Note Regarding
Forward-Looking Information.
This release includes forward-looking
information (within the meaning of Canadian securities laws and
within the meaning of the United States Private Securities
Litigation Reform Act of 1995) regarding Field Trip and its
business. Often but not always, forward-looking information can be
identified by the use of words such as "expect", "intends",
"anticipated", "believes" or variations (including negative
variations) of such words and phrases, or state that certain
actions, events or results "may", "could", "would" or "will" be
taken, occur or be achieved. Such statements are based on the
current expectations and views of future events of the management
of Field Trip, and are based on assumptions and subject to risks
and uncertainties. Although the management of Field Trip believes
that the assumptions underlying these statements are reasonable,
they may prove to be incorrect. The forward-looking events and
circumstances discussed in this release may not occur and could
differ materially as a result of known and unknown risk factors and
uncertainties affecting the companies, including the uncertainties
inherent in research and development as well as risks associated
with preclinical and clinical data, including the possibility of
unfavorable new preclinical, clinical or safety data, further
analyses of existing preclinical data, the ability to produce
comparable results as hypothesized, if, when and whether any drug
applications may be submitted and/or approved, decisions by
regulatory authorities, and/or other matters that could affect the
availability or commercial potential of FT-104, including
development of products or therapies by other companies,
availability and price of raw materials, availability of
manufacturing capacity on a timely basis and access to logistics or
supply channels commensurate with demand, the COVID-19 epidemic,
market conditions, economic factors, management's ability to manage
and to operate the business and the equity markets generally.
Although Field Trip has attempted to identify important factors
that could cause actual actions, events or results to differ
materially from those described in forward-looking statements,
there may be other factors that cause actions, events or results to
differ from those anticipated, estimated or intended. Accordingly,
readers should not place undue reliance on any forward-looking
statements or information. No forward-looking statement can be
guaranteed. Except as required by applicable securities laws,
forward-looking statements speak only as of the date on which they
are made and Field Trip does not undertake any obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future events, or otherwise.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy securities.
Neither the Toronto Stock Exchange nor its
Regulation Services Provider, have approved the contents of this
release or accept responsibility for the adequacy or accuracy of
this release.
Media contacts:Autumn
Communications202-276-7881press@fieldtriphealth.com
Investor contacts:Kathleen
Heaney / Sophia Bashford / Tim ReganKCSA Strategic
CommunicationsfieldtripIR@kcsa.com
SOURCE Field Trip Health Ltd.
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